WELLSFARGO FINANCIAL, INC.

COMPUTATIONOF RATIOS OF EARNINGS TO FIXED CHARGES

Exhibit(12)

 
|                                                                       | Six                                              |    |                      |    |      |    |   |    |   |    |    |    |
|----------------------------------------------------------------------------|--------------------------------------------------|---------|---------------------------|---------|-----------|---------|--------|---------|--------|---------|---------|---------|
|                                                                       | Months                                           |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | Ended                                            |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | June 30,                                         |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | 2001                                             |    | Years Ended December  31, |    |
|                                                                       |                                                  |    |                           |    |
|                                                                       |                                             |    | (Thousands of Dollars)    |    |
|                                                                       |                                             |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       |                                             |    | 2000                      |    | 1999      |    | 1998   |    | 1997   |    | 1996    |    |
|                                                                       |                                             |    |                           |    |           |    |        |    |        |    |         |    |
| Net  income                                                                | $                                                | 129,581 |                      | $       | 241,054   |    | $      | 265,361 |   | $       | 238,604 |    | $ | 269,450 |   | $ | 276,331 |   |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |
| Add:                                                                       |                                             |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       |                                             |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | Fixed  charges:                                  |    |                      |    |      |    |   |    |   |    |    |    |   |
|                                                                       |                                             |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | Interest  including amortization of debt expense | 368,689 |                      | 639,444 |      | 520,063 |   | 485,784 |   | 401,736 |    | 372,859 |   |
|                                                                       |                                             |    |                      |    |      |    |   |    |   |    |    |    |
|                                                                       | One-third  of rentals*                           | 6,558   |                      | 12,844  |      | 13,974  |   | 13,406  |   | 12,107  |    | 10,748  |   |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |
|                                                                       | Total  fixed charges                             | 375,247 |                      | 652,288 |      | 534,037 |   | 499,190 |   | 413,843 |    | 383,607 |   |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |
|                                                                       | Provision  for income taxes                      | 77,397  |                      | 138,834 |      | 149,190 |   | 121,668 |   | 144,082 |    | 148,096 |   |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |
| Total  net earnings, fixed charges and income taxes - “Earnings” | $                                                | 582,225 |                      | $       | 1,032,176 |    | $      | 948,588 |   | $       | 859,462 |    | $ | 827,375 |   | $ | 808,034 |   |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |
| Ratio  of earnings to fixed charges                                        | 1.55                                             |    | 1.58                      |    | 1.78      |    | 1.72   |    | 2.00   |    | 2.11    |    |
|                                                                       |                                                  |    |                           |    |           |    |        |    |        |    |         |    |

*One-third of rentals is deemedrepresentative of the interest factor.